Company Problems

CVA – Company voluntary arrangement

Administration

HMRC or other Creditors pressing for payment

Did you know there could be a much less stressful, faster and cheaper way to help solve your director’s responsibilities?

Company Transfer Sell your firm fast with our specialist service

Resign and put a new owner in the director’s chair

If your firm is in financial trouble and you are worried about the possibility of future problems impacting you personally or any new business you may form, such as a negative credit score, problems with insurance, etc. If the thought of having to face creditors, attend liquidation meetings or having your personal details published in the London Gazette, is making you feel uneasy, we can arrange for your firm to be sold (The maximum purchase price for any company is £1:00)

Upon payment of our arrangement fee ( starting at just £2,501:00) we transfer ownership of your firm including shares to a new legal owner. We will act as the company accountants and advisors so the new owners of your former business, will be able to attend to all ongoing business matters.

What will we do in regards to dealing with creditors, insolvency practitioners etc

Providing you supply us with a list of creditors we will write to your unsecured creditors including bank loans HP finance and bounce-back loans. We will also update HMRC both VAT & PAYE address records. As the new legal owners of your former firm we will deal with any liquidation matters attending creditors meetings or interviews with the official receiver or other insolvency practitioners. Your business will be legally taken over the shares will be transferred and the registered address PSC, director/Secretary details including service address will all be changed. All this can happen within 2 days meaning you will no longer have any responsibility for the future day-to-day running of your former company.

Our takeover company service will not release directors from financial responsibilities in regard to directors loans or personal guarantees given against any company debts nor will it relieve company officers from possible accountability who have previously traded fraudulently or with misconduct.

What are the personal impacts for a director of a company that goes through a formal liquidation  

Reputational damage

Insurance

You may find it very hard and expensive to get business insurance or you may not be able to get business insurance at all. Your current insurance company may refuse to deal with you even if you create another company.

VAT

You may not be able to register for  VAT. 

In order to VAT register any new business you are associated with HMRC may require you to pay a significant deposit before allowing this.

Finance & loans

Banks and other financial institutions rely on credit reference agencies these organisations will soon update their credit files showing your personal involvement as a director of a liquidated company this will downgrade your credit score.

Tenders

Large firms and local authorities often will not grant tenders to directors of liquidated companies

Companies House Register & London Gazette 

Your winding up order details etc will be published in the public domain (London Gazette) 

Your name will appear on the companies house register for many years